Saturday, July 12, 2014

Budget week blues - Nifty back to sub 7500

Nifty's highest 7809 was on Railway Budget day(8th July 2014) opening, only to see it slide down fast to 7596 on total disappointment and closed at 7623 on averaging. Budget day (10th July 2014) moves expressed the confusion whether it is "Modi's ache din" budget or not. Nifty opened at 7590, moved a little up to 7624, moved down to 7479 in disappointment, a surprise move up to 7731 on new hopes and again to 7540 on disappointment again and closed at 7568. Yesterday(the day after budget) Nifty opened at 7584, moved up to 7626 and slid slowly to 7447 and closed at 7460. It's interesting to note that in all these days Kaprekar numbers range 7614 - 7641 seemed very important. So, unless Nifty moves above this range further down move can be expected. Friday's Nifty closing 7460 is also adjacent to 7461 and near to centre of N2(7440).


Atharva said...

Dear Nandiji


Back to 7614- 7641 range.. It is just amazing. Hats off to you..Even intra day ABOC ( agni breaks open cipher) is rewarding handsomely..
Do you still think NS may reach till N3 7936 as you have mentioned likely to reverse trend between 12-17 july

Thanking you & Best Regards,


Nandi said...

Dear Atharva,
As Agni level is below Nifty and Nifty moved above EMA10 today some more upmove up to 7688-7000 expected.
S2(7936)may be in April-May 2015.

Atharva said...

Dear Nandiji!

Thanks and Happy Trading